{"id":48250,"date":"2014-07-21T06:00:56","date_gmt":"2014-07-21T10:00:56","guid":{"rendered":"http:\/\/1boringoldman.com\/?p=48250"},"modified":"2014-07-21T06:53:59","modified_gmt":"2014-07-21T10:53:59","slug":"one-of-the-predators","status":"publish","type":"post","link":"https:\/\/1boringoldman.com\/index.php\/2014\/07\/21\/one-of-the-predators\/","title":{"rendered":"one of the predators&#8230;"},"content":{"rendered":"<br \/>\n<blockquote>\n<div align=\"center\" class=\"big\"><a href=\"http:\/\/www.nytimes.com\/2014\/07\/16\/nyregion\/at-newyork-presbyterian-hospital-its-ex-ceo-finds-lucrative-work-.html?_r=0\" target=\"_blank\">At NewYork-Presbyterian Hospital, Its Ex-C.E.O. Finds Lucrative Work<\/a><\/div>\n<div align=\"center\" class=\"big\"><strong><font color=\"#200020\">New York Times<\/font><\/strong><\/div>\n<div align=\"center\" class=\"middle\">By ANEMONA HARTOCOLLIS<\/div>\n<div align=\"center\" class=\"small\">July 15, 2014<\/div>\n<div align=\"center\" class=\"middle\">[<a href=\"http:\/\/www.nytimes.com\/2014\/07\/16\/nyregion\/at-newyork-presbyterian-hospital-its-ex-ceo-finds-lucrative-work-.html?_r=0\" target=\"_blank\">full article available online<\/a>]<\/div>\n<\/blockquote>\n<blockquote>\n<div align=\"center\" class=\"big\"><a href=\"http:\/\/hcrenewal.blogspot.com\/2014\/07\/for-hospital-ceos-retirement-may-mean.html\" target=\"_blank\">For Hospital CEOs, Retirement May Mean Never Having to Lose Your Paycheck<\/a><\/div>\n<div align=\"center\" class=\"big\"><strong><font color=\"#0066ff\">Healthcare Renewal<\/font><\/strong><\/div>\n<div align=\"center\" class=\"middle\">by Roy Poses<\/div>\n<div align=\"center\" class=\"small\">July 17, 2014<\/div>\n<div align=\"center\" class=\"middle\">[<a href=\"http:\/\/hcrenewal.blogspot.com\/2014\/07\/for-hospital-ceos-retirement-may-mean.html\" target=\"_blank\">full article available online<\/a>]<\/div>\n<p>   <\/p>\n<div align=\"justify\">Dr Herbert Pardes was once one of the best paid CEOs of a US non-profit hospital system.  A new New York Times article reported that the hospital system continued to pay him millions after his retirement&#8230; In 2009, we first discussed the compensation given to Dr Herbert Pardes, the CEO of New York &#8211; Presbyterian Healthcare System, which appeared to make him one of the best paid, if not the best paid non-profit hospital system CEO in the US.  His total compensation for 2008 was $9.8 million, according to the NY Post.  While his compensation was lower in 2007, approximately $5.1 million, 9 other executives made over $1 million, and the 10 together made over $26 million.  This amount was approximately 20% of the system&#8217;s total surplus, and 1% of its total budget. The Times reported that since then, Dr Padres continued to do very well financially,<\/div>\n<ul>\n<div align=\"justify\">Dr. Pardes&rsquo;s compensation has consistently been among the highest of any New York hospital C.E.O. His compensation in 2011, his last year as chief executive, was $4.1 million, including base pay of $1.7 million and a bonus of $1.8 million.<\/div>\n<\/ul>\n<div align=\"justify\">According to the Times, after Dr Pardes retired in 2011,<\/div>\n<ul>\n<div align=\"justify\">The next year, Dr. Pardes earned $5.6 million, which included $1 million in base salary, a $1.8 million bonus for his final year as chief executive and more than $2 million in deferred compensation, according to hospital tax records. That exceeded the amount earned by Dr. Pardes&rsquo;s successor, Dr. Steven Corwin, who made $3.6 million that year. Three years after retirement, Dr. Pardes is still employed by the hospital as the executive vice chairman of its board of trustees, a position that compensation experts say is rare in the nonprofit world,&#8230;<\/div>\n<\/ul>\n<div align=\"justify\">So the year after Dr Pardes retired, he made as much from what most people might have thought was his former employer as he did in 2007 as CEO, when he was one of the best paid non-profit CEOs in the country, and more than he made in 2011, the year of his retirement&#8230;<\/div>\n<\/blockquote>\n<blockquote>\n<div align=\"justify\" class=\"big\"><a target=\"_blank\" href=\"http:\/\/en.wikipedia.org\/wiki\/Herb_Pardes\"><strong><font color=\"#200020\">Herb Pardes<\/font><\/strong><\/a><font color=\"#200020\"><strong> <\/strong><\/font>From <em><strong><font color=\"#200020\">Wikipedia<\/font><\/strong><\/em><\/div>\n<p>   <\/p>\n<div align=\"justify\">Herbert Pardes [born c.&thinsp;1932] is an American physician, psychiatrist, and the Executive Vice Chairman of NewYork&ndash;Presbyterian Hospital. He was previously president of Presbyterian Hospital; a few years after its merger with New York Hospital he became CEO of the combined entity, which was named NewYork&ndash;Presbyterian Hospital. He is a national figure in psychiatry and academic medicine. Prior to his retirement at New York Presbyterian, Pardes in 2008 was receiving compensation in excess of nine million dollars annually while CEO at the hospital along with other benefits.<\/div>\n<p>   <\/p>\n<div align=\"justify\"><u><strong><font color=\"#200020\">Education and career<\/font><\/strong><\/u><\/div>\n<div align=\"justify\">Dr. Pardes received his Bachelor of Science degree summa cum laude from Rutgers University in 1956 and his medical degree from the State University of New York-Downstate Medical Center in Brooklyn in 1960. <u>From 1978 to 1984, he was director of the National Institute of Mental Health<\/u> [NIMH], where he strengthened the Institute&#8217;s research program and emphasized the need to increase research support for psychiatry. From 1989 he was <u>president of American Psychiatric Association [APA]<\/u>. He is a former <u>Dean of the Columbia University College of Physicians and Surgeons<\/u>. Before becoming dean, Pardes was <u>chair of Columbia&#8217;s Department of Psychiatry<\/u>, where he remains a professor&#8230;<\/div>\n<\/blockquote>\n<div align=\"justify\">I don&#8217;t know Dr. Pardes or much about his contributions to medicine\/psychiatry, except that he&#8217;s held all the prestigious positions there are to hold over the course of his career. And I don&#8217;t have much to say about the NewYork&ndash;Presbyterian Hospital being willing to pay him those absurd amounts of money. He may be a great fund-raiser and\/or administrator, but what they&#8217;re buying is at least in part, his prestige. My only comment is about his willingness to accept that kind of compensation.<\/div>\n<p align=\"justify\">In his commentary about the New York Times article, Dr. Poses goes through the various rationalizations for Pardes being paid that obscene amount of money. They&#8217;re in his blog post. I want to skip all of that. That money has to come from somewhere and the only possibility is the pockets of the patients or their insurance carriers. Oh by the way, NewYork&ndash;Presbyterian is a not-for-profit hospital system. By accepting that salary, he&#8217;s making the statement that medicine is a business first and foremost, part of the system we now have that contributes to the wealth inequity in our country, that contributes to the ridiculous rising cost of healthcare, that contributes to the feeding frenzy of the hospital corporations, the pharmaceutical and medical equipment industries, and the insurance\/managed care goliaths.<\/p>\n<div align=\"justify\">Independent of his contributions and\/or prestige, he took the same oath I did at the end of medical school, <strong><font color=\"#200020\">Primum non nocere<\/font><\/strong> &#8211; &quot;First, Do no harm.&quot; By accepting that amount of compensation, he plants himself firmly among those forces that are skies-and-away the most harmful elements in healthcare today. He&#8217;s become one of the predators [just like the KOLs we talk about] &#8211; a &quot;<em>bought doctor<\/em>.&quot; It makes perfect sense that I read about this in a blog called <strong><font color=\"#0066ff\">Healthcare <u>Renewal<\/u><\/font><\/strong>&#8230;<\/div>\n","protected":false},"excerpt":{"rendered":"<p>At NewYork-Presbyterian Hospital, Its Ex-C.E.O. Finds Lucrative Work New York Times By ANEMONA HARTOCOLLIS July 15, 2014 [full article available online] For Hospital CEOs, Retirement May Mean Never Having to Lose Your Paycheck Healthcare Renewal by Roy Poses July 17, 2014 [full article available online] Dr Herbert Pardes was once one of the best paid [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-48250","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/48250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/comments?post=48250"}],"version-history":[{"count":16,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/48250\/revisions"}],"predecessor-version":[{"id":48266,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/48250\/revisions\/48266"}],"wp:attachment":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/media?parent=48250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/categories?post=48250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/tags?post=48250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}